Ethiopia begins discussions with Russia for investment in extractive industries and the Creation of new Jobs.
Ethiopia has initiated discussions with Russia regarding investments in the extractive industries and the creation of new jobs.
This topic took center stage during a meeting between the Head of Russia’s Federal Agency for Mineral Resources (FAMR), H.E. Mr. Evgeny Petrov, and the Speaker of the House of Federation of Ethiopia, H.E. Mr. Agegnehu Teshager.
The two officials explored investment prospects for further development in various sectors, including geology, subsoil use, energy, agricultural industry, education, and others.
Mr. Petrov suggested that Russian and Ethiopian geologists collaborate to unlock Ethiopia’s mineral resource potential. He also stated that Ethiopia’s mineral resources would attract investments in the extractive industries, leading to the creation of new jobs and increased tax revenues.
Earlier today, the President of the Russian Chamber of Commerce and Industry, H.E. Mr. Sergey Katyrin, also met with Speaker Agegnehu Teshager and his delegation.
During the official working visit to Russia, Speaker Teshager was briefed on the importance of information exchange and the necessity of active collaboration with the business community. The Speaker also learned about the activities of Expocentre, Russia’s largest organizer of international exhibitions.
Mr. Katyrin invited the Ethiopian delegation to participate in Expocentre’s events, emphasizing the need for cooperation between both countries at the regional level, particularly in terms of small and medium-sized businesses.
“Russia has always stood by Ethiopia in difficult times,” recalled Speaker Teshager, expressing Ethiopia’s ongoing openness to Russian foreign investment.
The Speaker expressed keen interest in trade development with Russia and the expansion of flower and coffee exports. He stressed that African countries are interested in developing relations with Russia.
